WileyPLUS ?© Incomplete Manufacturing C × © Incomplete Manufacturing Co × how to

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WileyPLUS ?© Incomplete Manufacturing C × © Incomplete Manufacturing Co × how to screenshot on mac x Christian Not Secure edugen.wileyplus.com/edugen/Iti/main.uni Return to Blackboard WileyPLUS shate gandt, Accounting Principles, 12e TIMER Start Time: 10:38 PM/ Remaining: 47 min. PRINTER VERSION BACK NEXT ASSIGNMENT RESOURCES Exercise 19-11 Quiz Chapter 19 Exercise 19-8 Incomplete manufacturing cost data for Horizon Company for 2017 are presented as follows for four different situations. Indicate the missing amount for each letter Work in Process 12/31 Total Direct Materials Used Direct Labor Used Work in Process Cost of Goods Manufactured Manufacturing Manufacturing Overhead $89,300 133,700 Costs $144,700 202,900 101,100 (1) $118,700 $37,800 $365,900 Review Resul Objsctive d (2) 44,100 474,000 453,500 269,200 291,400 85,500 63,600 84,800 74,400 79,800 46,000 272,400 Prepare a condensed cost of goods manufactured schedule for situation (1) for the year ended December 31, 2017 HORIZON COMPANY Cost of Goods

Explanation / Answer

Explanations: To compute the above figures the following formulas have been used:

Direct material used + Direct labor used + manufacturing overhead = Total Manufacturing costs

Total Manufacturing Costs + Beginning WIP - Ending WIP = Cost of Goods Manufactured

For example (a) = 118700+144700+89300 = 352,700

Similarly other figures have been computed using the formulas provided above.

Cost of goods manufactured schedule for situation 1:

Direct materials used Direct labor used Manufacturing overhead Total manufacturing costs Work in process 1/1 Work in process 12/31 Cost of goods manufactured 1 118,700 144,700 89,300 352,700 37,800 24,600 365,900 2 116,900 202,900 133,700 453,500 64,600 44,100 474,000 3 85,500 101,100 82,600 269,200 63,600 84,800 248,000 4 74,400 137,200 79,800 291,400 46,000 65,000 272,400

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